Cbus Property awards $180m construction contract for Newmarket Randwick project in NSW
Sydney-based builder Ganellen has been awarded a $180 million contract by Cbus Property to deliver the first stage of its masterplanned Newmarket Randwick development in New South Wales.
“Cbus Property. Together with Ganellen, is excited to be delivering an outstanding development to the future residents of Newmarket Randwick. We are confident that the development will be completed with the utmost attention to detail and finish,” Cbus Property CEO Adrian Pozzo said.
Artist impression (source: Cbus Property)
Newmarket Randwick will stand on the location of the historic former Inglis Newmarket Stables in Randwick, approximately six kilometres south east of the Sydney CBD. The project was given the green light for development by the Land and Environment Court last April 2017 under the condition that 1.5 per cent of the apartments will be guaranteed for affordable housing.
The project will comprise of 642 apartments and townhouses spread across 17 residential apartment buildings – which will range from three to eight storeys in height. Newmarket Randwick will also feature approximately 2,300-SQM of commercial and retail space. The five-hectare development is going to be delivered in three stages.
The masterplan also includes a 5,000-SQM public park that features terraced lawn seating, a large open green space as well as a community barbeque and seating area that will have a number of outdoor garden rooms. The existing Sales Ring structure is going to be retained and transformed into a playground, preserving the history of the site.
Artist impression (source: Cbus Property)
The entire development was designed by four architectural firms, namely Bates Smart, Neeson Murcutt Architects, Smart Design Studio and SJB.
The appointed builder, Ganellen, will begin construction later this year and the project is expected to be completed in early 2021.
“We’re excited to play an integral part in Newmarket, Randwick. Cbus Property shares our passion and commitment to delivering high quality, sustainable, residential projects that enhance their environment,” Ganellen Managing Director Nick Kodos said.
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Source: The Urban Developer, Cbus Property (1, 2)
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